ResMed has agreed to acquire US-based long-term post-acute care software provider, MatrixCare, in a deal valued at around $750m.
Based in Minnesota, MatrixCare provides a range of offerings, including point of care, lead and referral management, claims processing, payroll and nutrition management and others.
The company’s electronic health record (EHR) solution can be used in a range of long-term care settings, allowing providers to enhance patient management efficiencies and deliver better clinical care.
MatrixCare offers its services to over 15,000 providers across skilled nursing, life plan communities, senior living and private duty.
MatrixCare helps organizations manage risk in care delivery across the long-term post-acute care (LTPAC) spectrum.
The firm also offers Enterprise Analytics, which is a clinical decision support and care coordination platform to create person-centric and e-longitudinal health record.
MatrixCare’s settings are said to compliment ResMed’s current software-as-a-service (SaaS) offerings in home medical equipment, home health and hospice. These are delivered through Brightree and HEALTHCAREfirst platforms.
ResMed CEO Mick Farrell said: “The acquisition of MatrixCare is an excellent addition to the out-of-hospital software portfolio that we can offer our healthcare provider customers.
“ResMed is the world’s leading tech-driven medical device company and is well positioned to be the leading out-of-hospital software provider in the market.”
Subject to customary closing conditions and regulatory approvals, the deal is expected to be completed by the end of this year.
ResMed is planning to suspend its share repurchase program, following completion of the transaction.
MatrixCare will continue to operate as a standalone business within ResMed’s SaaS portfolio, after the completion of the deal.
MatrixCare CEO John Damgaard said: “Out-of-hospital care today is incredibly fragmented, with individuals struggling to navigate across care settings, and providers often unable to assist.
“Like MatrixCare, ResMed’s software solutions smooth the path to faster, better care, and a smarter way for clinicians to do business. The entire MatrixCare team and I look forward to joining forces with them.”
ResMed is a major connected health firm, which offers various devices and software solutions that will help treat and manage sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions.